Acronym that means first in, first out. It is a queuing system in which the next item to be acquired is the oldest item (or first item) in the queue.
Insurance Encyclopedia
Fifth digit
Symbol used in the diagnostic code book titled International Classification of Diseases, Ninth Revision, Clinical Modification (ICD-9-CM) . It is used to indicate that a fifth digit is required for coding to indicate the highest level of specificity. Also see fourth and fifth digits .
Fifth dividend option
Also called additional insurance option . See additional term insurance option .
Fifth Freedom Flight
Where cargo is carried by airline between countries in neither of which it is based.
Fifth Motor Vehicle Directive
Proposal (10/6/02) for motor insurance against civil liability. Main points: the minimum sum should be set at €2 million throughout the EU; three-month deadline for registration of car with foreign plates; where an accident occurs and the vehicle cannot be linked to a specific country it will be linked to the country in which the accident occurred; insurance companies claims-representatives or branch offices in Member States should be able to settle claims; a person who buys a car abroad should be able to obtain 2-4 weeks full insurance to cover the return journey to the buyer’s own country.